{"id":364728,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/reserve.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"reserve","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/reserve.html","title":{"rendered":"Reserve"},"content":{"rendered":"\n
\n

term:<\/p>\n

<\/h1>\n\n
\n

vt<\/p><\/dt>\n

re·served<\/b>
re·serv·ing<\/b>
:<\/b> to keep back or set apart: as
a<\/b> :<\/b> to keep (a right, power, or interest) esp. by express declaration [all rights reserved<\/i>] compare waive<\/a>
b<\/b> :<\/b> to defer a determination of (a question of law) [the justices reserved<\/i> the question because it was not an issue in the case]
n 1<\/b> :<\/b> something stored or kept available for future use [an energy company with various unproven oil s<\/i>]
2<\/b> :<\/b> an act of reserving
3<\/b> :<\/b> money kept in a separate account to meet future liabilities <\/p>\n

legal reserve<\/b>
:<\/b> the minimum amount as determined by government standards of the deposits held by a bank or of the assets of a life insurance company required by law to be kept as reserves <\/p>\n

loss reserve<\/b>
1<\/b> :<\/b> a reserve allocated by a bank for the purpose of absorbing losses [a loan loss reserve<\/i>]
2<\/b> :<\/b> an insurance company’s reserve representing the discounted value of future payments to be made on losses which may have already occurred <\/p>\n

policy reserve<\/b>
:<\/b> an insurance company’s reserve representing the difference in value between the net premiums and assumed claims for a given year in life insurance <\/p>\n

unearned premium reserve<\/b>
:<\/b> a reserve of funds which represents premiums paid to an insurance company but not yet applied to policy coverage and from which a policyholder is paid a refund in the event of cancellation prior to the period for which premiums have been paid
4<\/b> :<\/b> reserve price <\/a>

with reserve<\/b>
:<\/b> with a reserve price and with a seller reserving the right to reject all bids NOTE: A sale at auction is with reserve if there is no explicit indication to the contrary. <\/i>
<\/b>

without reserve<\/b>
:<\/b> without a reserve price and with the seller bound to accept the highest bid
<\/b><\/p>\n<\/dd>\n<\/dl>\n

Source: Merriam-Webster’s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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